Why Shares Of Ginkgo Bioworks (DNA) Are Up Today

Ginkgo Bioworks Holdings Inc. DNA shares are up Tuesday in response to recent insider purchases.

What To Know: A $512,000 stock purchase by director Shyam Sankar was made on May 22, per a new SEC filing. Sankar bought 400,000 shares of the company for $1.28 per share. 

Director Harry Sloan also bought shares on the same day. Sloan purchased 350,000 shares worth $448,000 at $1.28 per share, per a separate filing.

Shares of DNA are moving higher on the back of the insider buying activity.

Insider transactions can provide useful information for investors. An insider purchase such as the aforementioned buys by the Ginkgo Bioworks directors could be evidence that they believe the stock is set to rise.

Related Link: Ginkgo Bioworks Holdings Inc (DNA) Up 1.99% in Premarket Trading

DNA Price Action: Ginkgo Bioworks shares were up 5.63% at $1.58 Tuesday afternoon, according to Benzinga Pro.

Photo: Victoria_Regen from Pixabay.